Fun

Coinbase introduces embedded, smart wallets for developers

News Feed - 2024-03-02 01:03:11

Ana Paula Pereira7 hours agoCoinbase introduces embedded, smart wallets for developersThe crypto exchange is expanding its wallet-as-a-service offerings, addressing developers’ pain points when building Web3 applications.960 Total views33 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksCoinbase is building two new wallet solutions focused on integration and balance transfer across Ethereum Virtual Machine (EVM) applications, targeting developers’ onboarding to its layer-2 blockchain, Base.


Among the new solutions is a smart wallet that allows users to take their balances with them in different EVM-compatible applications integrated with the Coinbase Wallet SDK. The second feature is an embedded wallet that enables developers to incorporate noncustodial white-labeled wallets into their applications.


According to Coinbase, both features are designed to minimize developers’ pain points regarding user experience when building Web3 products.


“We’ve learned a lot from our customers in the past year, and we’ve been working a lot to improve the product experience of all of the services, and where we’ve arrived at is the Embedded Wallets. So, it’s been really a continuous effort for the past year,” Yuga Cohler, senior engineering manager at Coinbase Embedded Wallets, told Cointelegraph.


The move expands Coinbase’s wallet-as-a-service product line, a model that allows developers to integrate digital wallets into their own applications without needing to develop the core technology from scratch. This type of solution helps companies looking to incorporate digital assets into their products and offerings.“Just to contrast this with the self-custodial wallet model. [...] If you go to a DApp like Uniswap or OpenSea, you generally have to have a Chrome extension, or you have to visit it on your own custodial app. [...] And so what we’re trying to do is provide APIs that allow these DApps to create wallets on behalf of their users, but still in a native way, so they don’t have to go outside of the DApp.”


Wallet-as-a-service is a popular offering in the crypto space. Crypto custodian BitGo, for example, has a similar service that includes custodial and noncustodial wallets available for enterprises.


Both BitGo’s and Coinbase’s solutions are powered by multiparty computation (MPC) technology, which enables multiple participants to compute a result based on their private data without revealing it to one another or to an outside party.


“This technology does not use smart contracts. The cryptography of MPC happens entirely off-chain. And it’s a protocol, there are many different MPC protocols. Coinbase has one that we use in-house,” explained Cohler.


Coinbase recently dropped support for native Bitcoin (BTC) from its merchant payment platform, Coinbase Commerce, citing difficulties in delivering recent updates to its EVM payment protocol for the cryptocurrency.


Magazine:DeFi’s billion-dollar secret: The insiders responsible for hacks# Blockchain# Coinbase# Business# WalletAdd reactionAdd reactionRead moreCrypto Biz: Blockchain B2B trending, Telegram’s new ad platform, and moreExperts say OpenAI in ‘precarious position,’ ‘might become next WeWork’Bitcoin layer 2s among catalysts of

News Feed

Montenegro’s Supreme Court sends Do Kwon’s extradition case back to lower court
Turner Wright8 hours agoMontenegro’s Supreme Court sends Do Kwon’s extradition case back to lower courtThe High Court in Podgorica could decide whether the Terraform co-founder is sent to the United States or his nat
Bithumb to Ban Foreign Traders Failing Mobile Phone Identification
Bithumb to Ban Foreign Traders Failing Mobile Phone Identification South Korean crypto exchange Bithumb said it will deny access to foreigners unable to verify their identities via
Putin Orders Russian Government to Prepare to Check Officials With Crypto Assets
Putin Orders Russian Government to Prepare to Check Officials With Crypto Assets President Vladimir Putin has tasked several ministries and the central bank to p
Bitcoin Cup And Handle Cascade: Analyst Says BTC Price Could Reach $230,000 If It Follows This Structural Path
Este artículo también está disponible en español. A crypto analyst has projected a significant break to the upside for Bitcoin, drawing parallels to similar breakouts in
Bitcoin traders say BTC’s trend change potential rests at $65K
Nancy Lubale5 hours agoBitcoin traders say BTC’s trend change potential rests at $65KBitcoin’s potential trend change awaits at $65,000, where short-term traders will break even and leveraged shorts risk a major wash
Earn Yield Farming Rewards with DeFi Yield Protocol (DYP)
Earn Yield Farming Rewards with DeFi Yield Protocol (DYP) PRESS RELEASE. DeFi Yield Protocol (DYP) is a decentralized yield farming platform that allows liquidit
Michael Burry Compares Current Banking Turmoil to Panic of 1907 — Highlights Markets Bottoming
Michael Burry Compares Current Banking Turmoil to Panic of 1907 — Highlights Markets Bottoming Michael Burry, a hedge fund manager renowned for predicting the 2008 financial cris
Tom Mitchelhill6 hours agoKyle Davies to donate future OPNX earnings to 3AC creditors for ‘karma’Three Arrows Capital co-founder Kyle Davies called it a “shadow recovery process” during a July 3 Twitter Spaces.22
Stratis Brings Blockchain as a Service to All Businesses via its C# Native Platform
Stratis Brings Blockchain as a Service to All Businesses via its C# Native Platform PRESS RELEASE. 7th January 2021, London, United Kingdom – Stratis was c
Tom Blackstone4 hours agoPond0x DEX claims $100M in trading volume as critics allege it’s a scamPond0x reported that its DEX reached $100 million in cumulative volume, citing a Dune dashboard as evidence.2181 Total vie
Meme Tokens Slide 55% in 5 Months — DOGE, SHIB Dominate $14.9B Meme Coin Economy by 95%
Meme Tokens Slide 55% in 5 Months — DOGE, SHIB Dominate $14.9B Meme Coin Economy by 95% Five months ago, the top meme cryptocurrencies by market valuation were valued at $33.7 bi
How Long Will the Market Downturn Last?
How Long Will the Market Downturn Last? When will normality return? How long till global markets recover and bitcoin resumes the bull run it was teasing at before the coronavirus